Exchange Traded Concepts LLC Acquires 4,678 Shares of Conagra Brands, Inc. (NYSE:CAG)

Exchange Traded Concepts LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 15.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,519 shares of the company’s stock after buying an additional 4,678 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Conagra Brands were worth $986,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Hexagon Capital Partners LLC lifted its holdings in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the period. Grove Bank & Trust boosted its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands in the 3rd quarter valued at $47,000. Finally, ST Germain D J Co. Inc. grew its stake in Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 2.3 %

Shares of CAG opened at $25.62 on Wednesday. Conagra Brands, Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $33.24. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.72 and a beta of 0.29. The firm has a 50 day moving average price of $27.04 and a 200-day moving average price of $29.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.47%. Conagra Brands’s payout ratio is currently 137.26%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research reports. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.